Solana’s spot ETFs, which launched on Oct. 28, enjoyed a perfect start with 21 consecutive days of inflows — a streak that lasted until the day before Thanksgiving — before finally losing momentum.
After a November marked by heavy buying and millions of dollars flowing into the U.S.-listed SOL funds, demand slowed late last week. Data from SoSoValue shows the ETFs registered their first daily outflow on Friday, totaling $8.10 million. Although more than $5 million flowed back in later that same day, the bounce was short-lived: by Monday, the funds had processed $13.55 million in redemptions.
The cooling in demand brings an end to a three-week inflow streak that put Solana’s ETFs sharply ahead of bitcoin and ether products, both of which suffered billions in outflows during November’s market turbulence.
Still, Solana’s ETFs remain among the strongest performers in the digital asset category. Since debuting on Oct. 28, they have attracted more than $600 million in net inflows. Bitwise’s BSOL has dominated the field, pulling in over $540 million, while Grayscale’s GSOL trails with just under $80 million.
In contrast, bitcoin ETFs have shed more than $3 billion over the same period, with ether ETFs losing more than $1 billion.
The outperformance of Solana ETFs underscores rising institutional interest beyond the traditional BTC and ETH plays. Reinforcing the trend, Franklin Templeton submitted a filing on Nov. 21 seeking approval for a Solana ETF, citing consistent demand for regulated products offering exposure to the blockchain’s native asset without requiring direct token ownership.
